Loyola commuters to see rise in street parking rates

Commuters driving to Loyola University Chicago’s two city campuses will see parking rates rise in January should they decide to park on a city street.

Street parking at Loyola’s Lake Shore Campus in Rogers Park will rise Jan. 1 from $1.50 an hour to $2 an hour.

Street parking at Loyola’s Water Tower Campus will rise from $3.50 an hour to $4 an hour.

Here is the news release from Chicago Parking Meters LLC, the company the holds the contract with the City of Chicago to manage parking meters in the city:

Chicago Parking Meters, LLC is reminding motorists that on-street metered parking rates will change in 2013, based on the rate schedule detailed in the parking meter concession agreement. This is the last scheduled rate increase detailed in the concession agreement.

On-street metered parking rates will increase in 2013 to $2.00 per hour for 82% of the city, $4.00 per hour near downtown and $6.50 per hour in the downtown area.

Except for inside the Loop, payment is not required from 9 p.m. to 8 a.m. unless otherwise posted. Prepayment is available starting at 5 a.m. on many meters.

The transition to the new rates will start in the downtown area and move outward into the neighborhoods. Weather conditions permitting, the goal is to complete the transition by the end of February.

As the transition moves forward, motorists are only responsible for paying the posted rate on the meters. Accordingly, only the posted rates on each meter will be enforced.

If motorists have any questions or concerns, they can call 877-242-7901 or 312-744-PARK or visit www.chicagometers.com.